HCW Biologics Receives $7M License Fee
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2026
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Should l Buy HCWB?
HCW Biologics announced the receipt of full payment of the upfront license fee with a value of $7M from its licensee, Beijing Trimmune Biotech. Trimmune is a new operating entity responsible for the development and commercialization of HCW11-006, which was formed by WY Biotech and the Company. Trimmune investors include CITIC Medical Fund, a multi-billion-dollar investment fund focused on innovative companies primarily targeting pharmaceuticals, biotechnology, medical devices, and diagnostics, and TigerYeah Capital Fund of TigerMed, a global leading Contract Research Organization. The upfront license fee included a cash fee of $3.5M and a minority co-founder transferable equity position in Trimmune valued at $3.5M based on the most recent round of financing with third parties. HCW Biologics is also eligible to receive significant development milestone payments and double-digit royalties on future product sales, as well as a portion of the proceeds from future transaction involving the licensed molecule, if such a transaction occurs. In addition HCW Biologics has a payment-free, milestone-free, and royalty-free option to recapture all rights to the development and commercialization of HCW11-006 for in vivo applications in the United States, Canada, Central America, and South America after the conclusion of the Phase 1 clinical trial in China. Trimmune is responsible for all costs associated with the Phase 1 clinical trial in China. The deal also provides Trimmune an option to license the exclusive regional China rights to manufacture, develop and commercialize HCW9302, HCW Biologics' clinical stage molecule currently being evaluated in an autoimmune disorder. HCW Biologics is entitled to receive additional payments if Trimmune exercises its option to license HCW9302 for regional China rights.
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Analyst Views on HCWB
Wall Street analysts forecast HCWB stock price to rise
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Moderate Buy
Current: 0.425
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8.00
Averages
8.00
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8.00
Current: 0.425
Low
8.00
Averages
8.00
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8.00
About HCWB
HCW Biologics Inc. is a clinical-stage biopharmaceutical company. It is focused on discovering and developing novel immunotherapies to lengthen the health span by disrupting the link between chronic, low-grade inflammation, and age-related diseases, such as cancer, cardiovascular diseases, diabetes, neurodegenerative diseases, autoimmune diseases, as well as other conditions. It has developed a Tissue factOr-Based fusion (TOBI) discovery platform to generate designer, novel multi-functional fusion molecules with immunotherapeutic properties. Its lead product candidates include HCW9218 and HCW9302. HCW9218 is a clinical-stage bifunctional molecule that is designed to impact senescence by reducing senescent cells. The Company is prepared to progress HCW9218 in Phase II clinical trials for non-oncology indications.HCW9302 is designed to activate and expand regulatory T cells, which deactivate inflammasomes. Its other product candidates include HCW9201, HCW9206, HCW11-006, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
HCW Biologics Secures $7M License Fee from Beijing Trimmune
- Agreement Value: HCW Biologics has secured a $7 million upfront license fee from Beijing Trimmune, which includes $3.5 million in cash and $3.5 million in equity, indicating market confidence in its immunotherapy developments.
- Clinical Trial Responsibility: Trimmune will oversee the Phase 1 clinical trial of HCW11-006 in China, expected to commence in the first half of 2027, which will expedite product development while alleviating financial burdens on HCW Biologics.
- Future Revenue Potential: HCW Biologics is entitled to receive double-digit royalties and significant milestone payments on future product sales, providing a potential revenue growth pathway for the company.
- Market Reaction: Despite the agreement, HCW Biologics' stock fell 13.18% to $0.81, reflecting market concerns regarding the company's future prospects, particularly the uncertainties surrounding clinical trials and product commercialization.
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- Optimistic Market Sentiment: Retail sentiment on Stocktwits around HCW Biologics trended in the 'bullish' territory with high message volumes, indicating a positive outlook from investors regarding the company's future prospects.
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- Warrant Details: Each unit consists of one share of common stock and one warrant with an exercise price of $0.605, exercisable upon shareholder approval and valid for five years, indicating the company's strategic planning for future financing.
- Existing Warrant Adjustment: HCW Biologics has negotiated with existing warrant holders to reduce the exercise price from $2.41 to $0.6055, aiming to enhance shareholder attractiveness and optimize its capital structure.
- Market Performance and Outlook: HCWB shares have traded between $0.60 and $17.80 over the past year, closing at $0.60, down 7.54% from the previous day, reflecting market caution regarding the company's financing plans.
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HCW Biologics Announces Follow-On Offering Pricing
- Offering Size: HCW Biologics announced a follow-on offering of 2,477,292 units at $0.6055 per unit, expected to generate approximately $1.5 million in gross proceeds, which will fund clinical development, particularly for HCW9302 trials.
- Subscription Terms: Each unit consists of one share of common stock and a warrant with an exercise price of $0.6055, exercisable upon shareholder approval, with the offering expected to close around February 19, 2026.
- Existing Warrant Adjustment: The company has negotiated to reduce the exercise price of existing warrants from $2.41 to $0.6055, pending shareholder approval, aimed at enhancing shareholder value and boosting market confidence.
- Platform Development: HCW Biologics is leveraging its TRBC platform to develop over 50 immunotherapeutic molecules targeting cancer and chronic inflammation-related diseases, showcasing the company's innovative potential in the biopharmaceutical sector.
See More
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- Follow-On Offering Size: HCW Biologics has priced its follow-on offering at $0.6055 per unit for a total of 2,477,292 units, expecting gross proceeds of approximately $1.5 million, which will be allocated towards the clinical development of HCW9302 and general corporate purposes, thereby enhancing the company's financial strength in the biopharmaceutical sector.
- Warrant Details: Each unit consists of one share of common stock and one warrant with an exercise price of $0.6055, exercisable upon shareholder approval, aimed at incentivizing investors and enhancing shareholder value through this strategic offering structure.
- Existing Warrant Adjustment: The company has negotiated to reduce the exercise price of existing warrants from $2.41 to $0.6055, pending shareholder approval, which is intended to alleviate financial burdens on shareholders and potentially boost market confidence in the company's stock.
- Clinical Trial Progress: HCW9302, the company's lead product candidate, has commenced dosing in a multi-center Phase 1 clinical trial targeting autoimmune diseases, demonstrating the company's proactive advancements in developing innovative immunotherapies to address chronic inflammatory conditions.
See More
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- Agreement Value: HCW Biologics has secured a $7 million upfront license fee from Beijing Trimmune, which includes $3.5 million in cash and $3.5 million in equity, indicating market confidence in its immunotherapy developments.
- Clinical Trial Responsibility: Trimmune will oversee the Phase 1 clinical trial of HCW11-006 in China, expected to commence in the first half of 2027, which will expedite product development while alleviating financial burdens on HCW Biologics.
- Future Revenue Potential: HCW Biologics is entitled to receive double-digit royalties and significant milestone payments on future product sales, providing a potential revenue growth pathway for the company.
- Market Reaction: Despite the agreement, HCW Biologics' stock fell 13.18% to $0.81, reflecting market concerns regarding the company's future prospects, particularly the uncertainties surrounding clinical trials and product commercialization.
See More
HCW Biologics Shares Surge 56% on Positive CAR-T Therapy Results
- CAR-T Breakthrough: HCW Biologics announced positive research results for its CAR-T cell therapy HCW9206, leading to a more than 56% surge in pre-market trading on Monday, reflecting strong market confidence in its innovative treatment.
- Significant Cost Efficiency: HCW9206, as a proprietary multi-cytokine fusion protein reagent, offers a new approach to generating enhanced-function CAR-T cells, expected to drive immunotherapy advancements at a more cost-effective price point.
- Optimistic Market Sentiment: Retail sentiment on Stocktwits around HCW Biologics trended in the 'bullish' territory with high message volumes, indicating a positive outlook from investors regarding the company's future prospects.
- Wider Industry Impact: This positive research outcome not only boosts HCW Biologics' market value but may also attract broader attention and investment in the CAR-T cell therapy sector, fostering innovation and development across the industry.
See More
Alopecia Areata Market Poised for Significant Growth
- Market Growth: The alopecia areata treatment market is expected to see significant growth by 2036, with 1.7 million diagnosed cases projected in the 7MM by 2025, indicating strong market demand.
- Emerging Therapies: The launch of new therapies such as RINVOQ and Bempikibart is set to intensify competition, with promising clinical trial results suggesting they could transform the current treatment landscape.
- Impact of JAK Inhibitors: The approval of JAK inhibitors like OLUMIANT and LITFULO provides new treatment options, with clinical trials demonstrating significant efficacy in promoting hair regrowth, attracting increased payer interest.
- Expanding Patient Pool: With an estimated 620,000 diagnosed cases in the U.S. by 2024, the expanding patient population is expected to drive market demand, prompting pharmaceutical companies to invest more in the development of new therapies.
See More
HCW Biologics Announces Follow-On Offering Pricing
- Offering Size and Price: HCW Biologics Inc. announced a follow-on offering of 2.48 million units priced at $0.605 each, expecting gross proceeds of approximately $1.5 million, which will fund pre-clinical and clinical trials for its lead candidate HCW9302.
- Warrant Details: Each unit consists of one share of common stock and one warrant with an exercise price of $0.605, exercisable upon shareholder approval and valid for five years, indicating the company's strategic planning for future financing.
- Existing Warrant Adjustment: HCW Biologics has negotiated with existing warrant holders to reduce the exercise price from $2.41 to $0.6055, aiming to enhance shareholder attractiveness and optimize its capital structure.
- Market Performance and Outlook: HCWB shares have traded between $0.60 and $17.80 over the past year, closing at $0.60, down 7.54% from the previous day, reflecting market caution regarding the company's financing plans.
See More
HCW Biologics Announces Follow-On Offering Pricing
- Offering Size: HCW Biologics announced a follow-on offering of 2,477,292 units at $0.6055 per unit, expected to generate approximately $1.5 million in gross proceeds, which will fund clinical development, particularly for HCW9302 trials.
- Subscription Terms: Each unit consists of one share of common stock and a warrant with an exercise price of $0.6055, exercisable upon shareholder approval, with the offering expected to close around February 19, 2026.
- Existing Warrant Adjustment: The company has negotiated to reduce the exercise price of existing warrants from $2.41 to $0.6055, pending shareholder approval, aimed at enhancing shareholder value and boosting market confidence.
- Platform Development: HCW Biologics is leveraging its TRBC platform to develop over 50 immunotherapeutic molecules targeting cancer and chronic inflammation-related diseases, showcasing the company's innovative potential in the biopharmaceutical sector.
See More
HCW Biologics Announces Follow-On Offering Pricing
- Follow-On Offering Size: HCW Biologics has priced its follow-on offering at $0.6055 per unit for a total of 2,477,292 units, expecting gross proceeds of approximately $1.5 million, which will be allocated towards the clinical development of HCW9302 and general corporate purposes, thereby enhancing the company's financial strength in the biopharmaceutical sector.
- Warrant Details: Each unit consists of one share of common stock and one warrant with an exercise price of $0.6055, exercisable upon shareholder approval, aimed at incentivizing investors and enhancing shareholder value through this strategic offering structure.
- Existing Warrant Adjustment: The company has negotiated to reduce the exercise price of existing warrants from $2.41 to $0.6055, pending shareholder approval, which is intended to alleviate financial burdens on shareholders and potentially boost market confidence in the company's stock.
- Clinical Trial Progress: HCW9302, the company's lead product candidate, has commenced dosing in a multi-center Phase 1 clinical trial targeting autoimmune diseases, demonstrating the company's proactive advancements in developing innovative immunotherapies to address chronic inflammatory conditions.
See More
